Covina, March 16, 2023 (GLOBE NEWSWIRE) -- Construction Chemicals market is projected to grow from US$ $43.3 billion in 2019 to US$ 7.39 billion by 2029. The speedy industrial development and urbanization are the key reason for the growth of the target market. In modern days various manufacturer has stressing towards the launches and use of environmentally friendly chemicals that will have the least impact on the environment such factor fuel the growth of the target market. Rising government investment to developed infrastructure in the various region is boosting the growth for the target market.
The report "Global Construction Chemicals Market by Type (Concrete Admixture, Construction Adhesive, Construction Sealant and Flame Retardant) End-User Industry (Residential, Public Space, And Commercial), and Region - Global Forecast to 2029"
Key Highlights:
- In November 2019 Sika acquires Adeplast SA, the main manufacturer of mortars and thermal insulation solutions in Romania. This acquisition will meaningfully strengthen Sika’s position in the local construction chemicals market and extend its manufacturing footprint.
- In February 2018 Berger Paints Bangladesh Ltd, a market leader in Bangladesh Paints Industry and Fosroc International Ltd, a global leading company in Construction Chemicals, entered into a Joint Venture agreement to setting up a new legal entity “Berger Fosroc
- Limited” This venture will support Research & Development facilities to create revolutionary product development and innovation
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Key Market Insights from the report:
The Construction Chemicals market accounted for from US$ $43.3 billion in 2019 to US$ 7.39 billion by 2029. over the forecast period. The market report has been segmented based on type and end-user and region.
- By type the construction chemicals market classified into concrete admixture, construction adhesive, construction sealant and flame retardant
- Based on by end-user the construction chemicals market classified into residential, public space, and commercial.
- By region, The Asia Pacific expected to dominate the target market. Owing to the rising population, an increase in middle-class incomes, and urbanization. China dominates the regional market for construction chemicals globally due to higher production for construction chemical.
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Key Players:
- BASF SE
- W.R. Grace
- RPM International
- Sika A.G.
- Fosroc International
- The Dow Chemical Company
- Arkem S.A.
- Ashland Inc
- Mapei S.p.A
- Pidilite Industries.
The key player in the market is focusing on the partnership and acquisition strategy. For example, In December 2019 Lone Star, a global private equity firm, signed a purchase agreement for the acquisition of BASF's Construction Chemicals business. Under Lone Star, the Construction Chemicals team aims to focus on a growth path with an industry-specific approach.
Segmentation:
Market Segmentation:
- By Market Type- Concrete Admixture, Construction Adhesive, Construction Sealant and Flame Retardant
- By End User Industry– Residential, Public Space and Commercial
Regional scope:
- North America - U.S., Canada
- Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America - Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Regional Insights:
The construction chemicals market accounted for US$ 34.54 billion in 2020 and is estimated to be US$ 70.05 billion by 2030 and is anticipated to register a CAGR of 7.4%. On region the global construction chemicals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region is accepted to dominate the target market. Owing to the rising population, an increase in middle-class incomes, and urbanization. For instance, according to adb.org Asian cities are growing rapidly and it estimated that around 1.1 billion people will live in cities in the next 20 years. Also, by 2030, around 55% of the population of Asia will be urban. China dominates the regional market for construction chemicals globally due to higher production for construction chemical.
Construction Chemicals Market by development:
The construction chemicals market has been steadily growing over the years and is expected to continue to do so in the foreseeable future. Construction chemicals are specialty products that are used in the construction industry to enhance the performance of concrete, cement, and other building materials.
The growth of the construction industry and the increasing demand for durable and sustainable building materials are the major drivers of the construction chemicals market. With rapid urbanization, population growth, and increasing infrastructure development, the demand for construction chemicals is expected to increase. Additionally, the adoption of green building practices and the increasing focus on energy efficiency in buildings are expected to create new opportunities for construction chemicals manufacturers.
In terms of product types, the construction chemicals market can be segmented into adhesives and sealants, concrete admixtures, protective coatings, asphalt modifiers, and others. Concrete admixtures, which are used to improve the workability and durability of concrete, are the largest product segment within the construction chemicals market.
Construction Chemicals Market trend:
Growing demand for green building materials: One of the major trends in the construction chemicals market is the increasing demand for green building materials. As sustainability and environmental concerns become more important to consumers, builders are looking for ways to incorporate eco-friendly materials into their projects. Construction chemicals manufacturers are responding to this trend by developing products that are low-emission, non-toxic, and recyclable.
Rise in demand for self-healing concrete: Self-healing concrete is a new technology that has the potential to revolutionize the construction industry. It uses special additives that can repair cracks in concrete structures on their own, without the need for human intervention. This technology is gaining traction in the construction chemicals market, as builders look for ways to reduce maintenance costs and increase the lifespan of their structures.
Focus on energy efficiency: Another trend in the construction chemicals market is the increasing focus on energy efficiency. Builders are looking for ways to reduce energy consumption in buildings, and construction chemicals manufacturers are responding by developing products that can improve insulation, reduce heat loss, and lower energy consumption.
Technological advancements: Technology is playing an increasingly important role in the construction chemicals market. Advances in materials science, nanotechnology, and other fields are driving the development of new and innovative construction chemicals. For example, researchers are exploring the use of nanomaterials in concrete admixtures, which could improve strength and durability.
Increasing demand from emerging markets: Finally, the construction chemicals market is seeing increasing demand from emerging markets. As developing countries invest in infrastructure and building projects, the demand for construction chemicals is growing. This is particularly true in Asia-Pacific, where countries such as China and India are investing heavily in infrastructure development.
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Questions answered by Construction Chemicals Market:
- What is the current market size and growth rate?
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What is the competitive landscape like in the market?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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